Jul 5, 2011 5:30pm PDT
is kind of late to the game. he delegated this to joe biden. eric cantor, jon kyl left those talks when it became apparent that they weren't making progress. so finally the president took personal ownership and responsibility. i'm glad he did because only he and john boehner and mitch mcconnell are going to be able to leach a deal. there's not much time left to do that. i hope they go big. i hope we take advantage of this opportunity rather than have to deal with a piecemeal approach. >> woodruff: if democrats are prepared to give ground on entitlements on medicare and medicaid why can't republicans give some ground on the question of taxes especially, you know, we're talking about corporate taxes, doing away with tax breaks for people who own private jets? >> we're happy to talk to the president about tax reform, which is a commission, the simpson-bowles commission last december recommended. a lot of that is a good place to have a good extended discussion and to make our tax code flatter, fairer and simpler and also to make our companies more competitive when it comes to job creation h
Jul 19, 2011 3:00am PDT
. in 30 minutes, rupert murdoch and his jon james and rebekah brooks will face questioning from another parliamentary committee. cnn will have this coverage all morning. >> rupert murdoch on the hot seat as he answers questions about what he knew about this growing phone hacking scandal.
Jul 6, 2011 12:00pm EDT
on a diet. i'm going to add calories to my excluded food intake." unquote. that was jon stewart. he hit the nail on the head. for sure it's easy to make fun but what the president is trying to do with tax expenditures is no laughing matter. liberals talk about tax expenditures as though they were just getting rid of wasteful spending. first, as a legal matter, tax expenditures are not spending. outlays are checks cut from the treasury department are defined as spending under the congressional budget act. that's what spending is. yet, most tax expenditures only lose revenue and do not include an outlay portion. tax expenditures that only lose revenue contain no spending as defined by the congressional budget act and is scored by the official scorekeepers for congress. the joint committee on taxation and the congressional budget office. and second, as a policy matter twhe comes to tax -- when it comes to tax expenditures, one person's loophole is another person's opportunity to save for college and retirement, finance a home and ties to your -- taoeugts -- tithes to your church. reducing